Using the following account balances, calculatethe working capital.AccountCashAccountsReceivablePrepaidInsuranceEquipmentBuildingAccountsPayableAccount Balances dataDebitSalariesPayableNotes PayableCommonStockServiceRevenueAdvertisingExpenseRent Expense$27,0007,30017,00050,000250,00014,000120,000Credit14,90016,20080,00012,00066,000

Working capital :— It is the difference between current assets and current liabilities. Current…

Using the following account balances, calculate the working capital. Account Cash Accounts Receivable Account Balances data Debit Prepaid Insurance Equipment Building Accounts Payable Salaries Payable Notes Payable Common Stock Service Revenue Advertising Expense Rent Expense $27,000 7,300 17,000 50,000 250,000 14,000 120,000 Credit 14,900 16,200 80,000 12.000 66.000

Using the following account balances, calculate the working capital. Account Cash Accounts Receivable Account Balances data Debit Prepaid Insurance Equipment Building Accounts Payable Salaries Payable Notes Payable Common Stock Service Revenue Advertising Expense Rent Expense $27,000 7,300 17,000 50,000 250,000 14,000 120,000 Credit 14,900 16,200 80,000 12.000 66.000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 15EA: Using the following account balances, calculate: A. working capital B. current ratio

See similar textbooks

Similar questions

Using the following account balances, calculate: A. working capital B. current ratio
Question: Calculate the weights of capital components based on the book value balance sheet. (answer in excel format and show input for spreadsheets)
Where is the capitalized income recorded? Debit aide of Income and expenditure A/C Deducted from capital fund in Balance Sheet Credit side of Income and expenditure A/C Added to Capital Fund in the Balance Sheet
Question1Thewholeoffinancialaccountingisbasedupontheverysimpleideathat,resourcessuppliedbytheownerofthebusinessplusliabilitiesthatmustbesettledatafuturedatemustbeequaltotheresourcesinthebusiness.Itfollowsthatthecapitalplusliabilitiesoftheentitymustbeequaltoassetsoftheentityexpressedas:Capital+Liabilities=Assets(i.e.C+L=A).UsingMicrosoftexcel,demonstratetheeffectsofthefollowingtransactionsontheaccountingequation,andpreparetheresultantbalancesheetasat31stJuly,2020,¢1Julystartedbusinesswithcash30,0002Salesoncash50,0004Stockofmaterialspaidbycash10,0005Paidcashintobank20,0007Withdrewcashforofficeuse10,0008Loanreceivedbycash20,00010Salesofgoodsreceivedcheque30,00019Cashsales80,00021Debtorpaidusbycash50,00030Sales,receivedcheque40,000
Net working capital is defined as:Select one:a. Fixed assets minus long-term liabilities.b. Current assets minus current liabilities.c. Total liabilities minus shareholders' equity.d. Current liabilities minus shareholders' equity.e. Total assets minus total liabilities.
Accounting calculate return on assest for this statement
"The following table summarizes the rules of debit and credit. For each of the items A through L, indicate whether the proper answer is a debit or a credit.IncreaseDecrease Normal BalanceBalance sheet accounts:AssetABDebitLiabilityCDebitDStockholders’ equity:Common StockCreditEFRetained EarningsGHCreditDividendsDebitCreditIIncome statement accounts:RevenueJKCreditExpenseLCreditDebit"
Account for accountspayable and analyzeaccounts payableturnover
The is the cost of each financing component multiplied by that component's percent of the total funding amount. cost of capital IRR cost of debt NPV
Current assets DIVIDED BY current liabilities is the Current Ratio Net Worth Ratio Working Capital
Find the following using the given data: total expense Total assests Total liabilities Total Revenue Net income Ending capital Net increase
Define these. a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover